Indeed: I think it's important to remember that Warren Buffett is a genius at personal marketing. That's why he appears in so much public media, so often. Being an aw-shucks, down-to-earth guy from Nebraska is part of his brand, and the house is part of that. Maybe the idea is that you want your fund manager to be frugal and not flashy.
> Warren Buffett is a genius at personal marketing.
It helps when the American press is as obliging as it is in continually portraying him as a sort of billionnaire Mr. Rogers. They'll happily print his folksy wisdom and relatable outrage about how his secretary pays a higher income tax % than he does.
Yet he hasn't lifted a finger to support efforts that would reduce corporate tax loopholes.
I was once peeved at a company's CFO driving a Porsche. Eventually I convinced myself that it's okay, because a Porsche is almost the only non-depreciating asset that you can drive.
